Drilling Program at Três Estradas and Joca Tavares Deposits Delivers Positive Results to Further Strengthen Rio Grande Asset Base

Highlights:

• Infill program at Três Estradas was completed with 18 holes drilled:

TED-15-067 returned 61.30m @ 5.82% P2O5 (from 16.0m) including 16.0m @ 10.39% P2O5 (from 17.0m)
TED-15-070 returned 51.90m @ 6.83% P2O5 (from 1.85m)

• Joca Tavares drilling program was completed with 40 holes drilled:

JTD-15-012 returned 67.60m @ 4.44% P2O5 (from surface)
JTD-15-019 returned 7.57m @ 11.25% P2O5, (from surface)
JTD-15-028 returned 18.57m @ 4.53% P2O5 (from surface)
JTD-15-029 returned 17.42m @ 4.39% P2O5 (from surface)

• Três Estradas drill program results to increase current Indicated Resource (currently a JORC compliant 70.1 Mt comprised of 15.2 Mt Indicated & 54.9 Mt Inferred) for the BFS

• Maiden JORC compliant resource now being prepared for Joca Tavares

• Drilling success at Joca Tavares validates AGR’s strategy of identifying higher grade oxide mineralisation to enhance Três Estradas mine plan

• Project development works advancing to schedule – column flotation test work to commence shortly and EIA on track for submission next quarter